Search

CGI Renews US$30.6 Million in Contracts to Serve U.S. Department of Housing and Urban Development

Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
FAIRFAX, VA, Oct. 28 /CNW Telbec/ - CGI Federal, a wholly-owned U.S.
operating subsidiary of CGI Group Inc. (TSX: GIB.A; NYSE: GIB), today
announced the signing of one-year contract renewals estimated at
US$30.6 million for business process outsourcing services to administer
multi-family housing programs in Florida, New York, and Northern California
for the U.S. Department of Housing and Urban Development (HUD).
CGI is responsible for more than 25 percent of the housing portfolio
across the U.S. administered under HUD's multi-family housing program. In
addition to its contracts to serve Florida, New York and Northern California,
CGI administers contracts in the state of Ohio, and in Washington D.C. Housing
assistance payments processed total more than US$1.98 billion annually, making
CGI the largest HUD processor of its kind in the U.S.
"Success requires a strong and trusting partnership," said Marybeth
Carragher, Vice President, CGI. "We are proud of our work with state and local
housing authorities, helping to improve efficiencies while generating
significant additional fees to help fulfill their mission of providing safe,
decent and affordable housing to those in need."
About CGI Federal
CGI Federal (www.cgi.com\usfederal) is a wholly-owned U.S. operating
subsidiary of CGI Group Inc., dedicated to providing effective IT solutions
for federal government agencies by combining over 30 years of government
experience and technology skills. Founded in 1976, CGI Group Inc. is one of
the largest independent information technology and business process services
firms in the world. CGI and its affiliated companies employ approximately
27,000 professionals in over 100 offices across 16 countries. CGI provides
end-to-end IT and business process services to clients worldwide from offices
in Canada, the United States, Europe, Asia Pacific as well as from centers of
excellence in North America, Europe and India. CGI's annual revenue run rate
stands at $3.8 billion and at June 30th, 2008, CGI's order backlog was
$12.03 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB)
and are included in the S&amp;P/TSX Composite Index as well as the S&amp;P/TSX Capped
Information Technology and MidCap Indices. Website: www.cgi.com.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively
relate to historical facts constitute "forward-looking statements" within the
meaning of that term in Section 27A of the United States Securities Act of
1933, as amended, and Section 21E of the United States Securities Exchange Act
of 1934, as amended, and are "forward-looking information" within the meaning
of sections 138.3 and following of the Ontario Securities Act. These
statements and this information represent CGI's intentions, plans,
expectations and beliefs, and are subject to risks, uncertainties and other
factors, of which many are beyond the control of the Company. These factors
could cause actual results to differ materially from such forward-looking
statements or forward-looking information. These factors include and are not
restricted to the timing and size of new contracts, acquisitions and other
corporate developments; the ability to attract and retain qualified members;
market competition in the rapidly-evolving IT industry; general economic and
business conditions, foreign exchange and other risks identified in the MD&amp;A,
in CGI's Annual Report on Form 40-F filed with the U.S. Securities and
Exchange Commission (filed on EDGAR at www.sec.gov), the Company's Annual
Information Form filed with the Canadian securities authorities (filed on
SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The
words "believe," "estimate," "expect," "intend," "anticipate," "foresee,"
"plan," and similar expressions and variations thereof, identify certain of
such forward-looking statements or forward-looking information, which speak
only as of the date on which they are made. In particular, statements relating
to future performance are forward-looking statements and forward-looking
information. CGI disclaims any intention or obligation to publicly update or
revise any forward-looking statements or forward-looking information, whether
as a result of new information, future events or otherwise, except as required
by applicable law. Readers are cautioned not to place undue reliance on these
forward-looking statements or on this forward-looking information. You will
find more information about the risks that could cause our actual results to
significantly differ from our current expectations in the Risks and
Uncertainties section.